European Markets Finished Mostly Higher In Cautious Trade

(RTTNews) - The majority of the European markets are set to end Tuesday's session with modest gains. Trading activity was on the light side, due to a public holiday in Germany. Investors also remain in a cautious mood ahead of tomorrow's policy decision by the Federal Reserve and Thursday's announcement from the Bank of England.

In addition to the central bank announcements, traders are also looking forward to a number of important corporate earnings report and economic reports, including the U.S. jobs report for October on Friday.

The pan-European Stoxx Europe 600 index advanced about 0.40 percent. The Euro Stoxx 50 index of eurozone bluechip stocks increased around 0.40 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, added about 0.50 percent.

The DAX of Germany was closed for a holiday, but the CAC 40 of France rose about 0.25 percent. The FTSE 100 of the U.K. gained around 0.10 percent and the SMI of Switzerland finished higher by about 0.80 percent.

In Paris, Airbus rallied nearly 4 percent after reaffirming its 2017 guidance. BNP Paribas tumbled nearly 3 percent after the lender posted lower trading revenues in the third quarter.

In London, BP jumped nearly 2 percent. The oil giant reported a 9.2 percent increase in third-quarter earnings and announced it would launch a share buyback.

Budget airline Ryanair Holdings climbed almost 7 percent. The company maintained its full-year profit guidance after reporting an 11 percent increase in first-half profit.

Specialty chemicals firm Croda gained over 4 percent after a good performance across all three businesses in the third quarter.

Packaging company DS Smith advanced about 1 percent after it delivered first-half trading results in line with expectations.

WPP rose nearly 3 percent despite the advertising giant lowering its full-year earnings forecasts, saying firms are reducing advertising spend.

Pumps specialist Weir Group dropped nearly 7 percent after a profit warning.

The euro area economy expanded at a faster than expected pace in the third quarter and the unemployment rate fell to a more than eight-year low, while inflation slowed unexpectedly, official data revealed Tuesday.

Gross domestic product climbed 0.6 percent quarter-on-quarter, but the rate was slightly slower than the revised 0.7 percent expansion seen in the second quarter, preliminary flash estimate published by Eurostat showed.

Economists had forecast the sequential growth rate to ease to 0.5 percent from the second quarter's initial estimate of 0.6 percent.

Eurozone inflation eased unexpectedly in October, though marginally, flash data from Eurostat showed Tuesday. Inflation slowed to 1.4 percent in October from 1.5 percent in September. Economists had expected the inflation to remain stable at 1.5 percent.

The euro area unemployment rate reached its lowest level since January 2009, data from Eurostat showed Tuesday. The jobless rate fell to 8.9 percent in September from 9 percent in August. This was the lowest since January 2009. The rate was forecast to remain at 9 percent.

France's economy expanded as expected in the third quarter, first estimate from the statistical office Insee revealed Tuesday. Gross domestic product grew 0.5 percent sequentially, in line with expectations, but slightly slower than the revised 0.6 percent expansion posted in the second quarter.

France's inflation increased in October on higher food prices, provisional estimate from the statistical office Insee showed Tuesday. Consumer price inflation rose to 1.1 percent in October from 1 percent in September. Inflation was forecast to remain unchanged at 1 percent. Final data is due on November 15.

France's consumer spending increased in September after falling in the previous month, figures from the statistical office INSEE showed Tuesday. Consumer spending rose 0.9 percent month-over-month in September, reversing a 0.2 percent drop in August.

UK consumer confidence weakened in October on concerns about wider economic prospects but willingness to buy improved for the third straight month, survey data from GfK showed Tuesday. The consumer sentiment index fell by one point to -10 in October.

China's manufacturing sector growth softened more than expected in October largely due to weak new orders, official survey data showed Tuesday.

The manufacturing Purchasing Managers' Index fell more-than-expected to 51.6 in October from 52.4 in September, data published by the National Bureau of Statistics revealed. This was the weakest reading in three months. The expected score was 52.0.

Growth in Chicago-area business activity unexpectedly accelerated in the month of October, according to a report released by MNI Indicators on Tuesday.

MNI Indicators said its Chicago business barometer rose to 66.2 in October from 65.2 in September, with a reading above 50 indicating growth. The increase surprised economists, who had expected the barometer to drop to 61.0.

Consumer confidence in the U.S. saw a significant improvement in the month of October, the Conference Board revealed in a report released on Tuesday.

The Conference Board said its consumer confidence index jumped to 125.9 in October from an upwardly revised 120.6 in September. Economists had expected the index to inch up to 121.0 from the 119.8 originally reported for the previous month.